Duke Realty Corporation (NYSE: DRE) Announces the Income Tax Characteristics of its 2021 Common Share Dividends
INDIANAPOLIS, Jan. 18, 2022 (GLOBE NEWSWIRE) — Duke Realty Corporation (NYSE: DRE) announces the income tax characteristics of its 2021 common share dividends. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Duke Realty Corporation’s dividends.
Common Share Dividends:
Ticker Symbol DRE, CUSIP # 264411505
| Payment Date |
Total 2021 Distribution Per Share |
Total Ordinary Dividends |
Qualified Dividends (1) |
Total Capital Gain Distribution |
Unrecaptured Section 1250 Gain (2) |
Section 199A Dividends (3) |
| Form 1099 -DIV Box Number |
1a |
1b | 2a | 2b | 5 | |
| 2/26/2021 | $0.255000 | $0.233247 | $0.012764 | $0.021753 | $0.010730 | $0.220483 |
| 6/1/2021 | 0.255000 | 0.233247 | 0.012764 | 0.021753 | 0.010730 | 0.220483 |
| 8/31/2021 | 0.255000 | 0.233247 | 0.012764 | 0.021753 | 0.010730 | 0.220483 |
| 11/30/2021 | 0.280000 | 0.256114 | 0.014015 | 0.023886 | 0.011782 | 0.242099 |
| 2021 Totals | $1.045000 | $0.955855 | $0.052307 | $0.089145 | $0.043972 | $0.903548 |
| Percentage | 100.0000% | 91.4694% | 8.5306% | |||
| (1) Qualified Dividends are a subset of, and are included in, the Total Ordinary Dividends amount reported in box 1a of Form 1099-DIV. (2) Unrecaptured Sec. 1250 Gain is a subset of, and is included in, the Total Capital Gain Distribution amount reported in box 2a of Form 1099-DIV. (3) Section 199A Dividends are a subset of, and are included in, the Total Ordinary Dividends amount reported in box 1a of Form 1099-DIV. |
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For corporate shareholders, the Section 291(a) preference item is 0.8416% of total dividend distributions. The company did not incur any foreign taxes in 2021. For purposes of satisfying U.S. federal income tax withholding obligations under Section 1.1445-8 of the federal income tax regulations with respect to payments to foreign shareholders, Duke Realty Corporation characterizes the long-term capital gain portion of the dividends, including the Unrecaptured Section 1250 gain, described above as capital gain dividends.
Pursuant to Treas. Reg. § 1.1061-6(c), none of the capital gain dividends reported in Form 1099-DIV box 2a relate to the “One or Three Year Amounts Disclosure” for purposes of Section 1061 of the Internal Revenue Code. Section 1061 is generally applicable to direct and indirect holders of “applicable partnership interests.”
For shareholders whose income maintains its character when passed through or distributed to direct or indirect foreign owners or beneficiaries, the Section 897 gain reportable in box 2e is $0, and the gain reportable in box 2f is equivalent to the box 2a capital gain distribution amounts in the above table. Note that Section 897 gain amounts in boxes 2e and 2f are not applicable to U.S. individual shareholders.
About Duke Realty Corporation
Duke Realty Corporation owns and operates approximately 160 million rentable square feet of industrial assets in 19 key U.S. logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is a component of the S&P 500 Index. More information about Duke Realty Corporation is available at www.dukerealty.com.
| Investor Relations Contact: | Tax Contact: |
| Ron Hubbard | Stephanie York |
| (317) 808-6060 | (317) 808-6000 |
